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April 30, 2024
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It was less than 70%
can confirm
i heard ~50%
A few groups I know only took barely over half. I’d say 60% is a good estimate.
Prospective applicants - Stay away from DB. It is not the same firm as it used to be a few years back.
Christ don’t be an idiot. Any investment bank is better than no investment bank and DB is still significantly better than a lot of MM trash.
I’m saying this as someone in a tier 1 American BB.
Do NOT listen to people like this propspective applicants.
Listen I'm not one to bash or talk down - especially given Covid and how it's not an easy time for any firm. But I think the way DB has handled everything is just such a bad PR stunt. I get they are struggling regardless of Covid - but they are still a world class brand. They completely left SAs in the dark for months on the plan for the summer (even after every firm had communicated to their interns that they would ensure a summer virtually), leaving everyone to dry. Finally, they communicate and ensure of a virtual program super late, slash the salary, length, and communicate not great return opportunities after kids left in the dark. Again, Covid sucks and some banks have to do what they have to do to stay afloat - it's the way it works whether fair or not
Also, I am pissed off at people taking higher moral ground here on the forum and saying "World owes you nothing, be thankful you had an internship, you don't deserve 10-weeks pay (as other banks were kind enough to offer all interns)" - you know what, we all get it, alright! All interns worked really hard securing a spot in the class. And obviously you'd draw comparison with what's happening at peer firms. If it is that hard for you to understand, then be altruist enough to never ask for a salary raise, additional bonus if your colleagues are getting it because guess what - No one owes you anything.
What DB did cannot be justified. It was not fair by any stretch of imagination. DB did end up leaving a bitter taste by the end of the internship. Having said that, no one here is saying that not getting an offer from DB is an end of the world for them. Intention is to make people aware of how internship experience was and if you are considering DB as your potential employer, just keep the points raised here in mind. As simple as that!
People forget that recruiting is a 2-way street. When a firm does this type of stuff it hurts them more than they know. Kids on campuses talk - younger guys/gals going through recruiting become aware and word spreads quickly. It can hurt a firm's OCR and people begin to recruit at that firm for a real last option if it comes to it
any updates on waitlist?
offers already out and signed
Awesome, thanks! Group specific right? For example, no one interned in CR and moved to FSG?
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